Mondelez International (NASDAQ:MDLZ) Given New $71.00 Price Target at Citigroup

Mondelez International (NASDAQ:MDLZ) had its target price trimmed by Citigroup from $78.00 to $71.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Redburn Atlantic assumed coverage on Mondelez International in a report on Tuesday, October 22nd. They set a “buy” rating and a $82.00 price objective for the company. Piper Sandler boosted their price target on Mondelez International from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their price objective on Mondelez International from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft cut shares of Mondelez International from a “buy” rating to a “hold” rating and reduced their target price for the company from $78.00 to $67.00 in a research report on Thursday, December 12th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $61.00 price target (down from $74.00) on shares of Mondelez International in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Mondelez International has an average rating of “Moderate Buy” and a consensus target price of $77.64.

Mondelez International Stock Performance

Shares of NASDAQ MDLZ opened at $56.25 on Wednesday. Mondelez International has a 12 month low of $56.21 and a 12 month high of $77.20. The stock has a 50 day moving average of $62.59 and a 200-day moving average of $67.56. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $75.22 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.80 and a beta of 0.54.

Mondelez International (NASDAQ:MDLZ) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.85 by $0.14. The firm had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.11 billion. Mondelez International had a net margin of 10.58% and a return on equity of 17.53%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, equities research analysts predict that Mondelez International will post 3.48 EPS for the current year.

Mondelez International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Tuesday, December 31st. Mondelez International’s dividend payout ratio is presently 66.67%.

Mondelez International announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MDLZ. Truvestments Capital LLC bought a new position in shares of Mondelez International in the third quarter worth about $25,000. Prospera Private Wealth LLC bought a new position in Mondelez International in the 3rd quarter valued at approximately $27,000. Richardson Financial Services Inc. boosted its position in Mondelez International by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 400 shares of the company’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in shares of Mondelez International during the third quarter worth $38,000. Finally, Hara Capital LLC acquired a new position in shares of Mondelez International during the third quarter worth $45,000. Institutional investors own 78.32% of the company’s stock.

Mondelez International Company Profile

Mondelez International, Inc, through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe. It provides biscuits and baked snacks, including cookies, crackers, salted snacks, snack bars, and cakes and pastries; chocolates; and gums and candies, as well as various cheese and grocery, and powdered beverage products.